RKade Cricket Academy, a sports coaching venture focussed on providing grassroots- and advanced-level training, has raised seed funding.
The startup – operated by RRKC Academy Pvt Ltd – has raised capital from angel investor Virendra Kumar Jayaswal, a person aware of the matter told VCCircle.
Jayaswal is a senior adviser with Shriram Pistons & Rings Ltd, a manufacturing arm of the diversified Shriram Group. He has several years of experience in management and operations-related business functions, the person said.
RKade, set up by Chirradeep Kabiraj in 2016, says it targets children in the age group of 6-18 years. Its coaching methodology combines traditional concepts along with technology and specialised camps.
According to his LinkedIn profile, Kabiraj is an alumnus of the Birla Institute of Technology-Mesra and has worked with firms including Tata Cummins, Mahindra & Mahindra and Reliance Retail.
The funding amount couldn’t be ascertained.
Mumbai-based investment bank Lakhani Financial Services advised RKade on this fundraise.
The company operates nine academies in the Gurugram region. It has over 350 students and 13 coaches across its centres.
RKade is planning to use the capital it has raised to expand to at least 30 other locations in smaller cities and towns over the next five years. It will also use the capital raised for enhancing its own technological infrastructure.
Kabiraj said the fundraise would also help it achieve unit economics and move towards profitability. “There is a dearth of organised cricket training academies in Tier-II and Tier-III cities, and the replication of our successful model will provide junior upcoming cricketers and their parents with a complete solution.”
Separately, Lakhani Financial director Devansh Lakhani said the investment in RKade Cricket Academy was proof of its business model and ability to adapt to the changing needs of children undertaking sports coaching.